Wheat Market Commentary

Wheat futures are 5 to 7 cents higher this morning. They ended the Wednesday session with most contracts 9 to 13 cents lower, with MPLS the weakest. Rains over the last 24-hours are helping to build up soil moisture ahead of winter wheat planting. The weekly USDA Export Sales report will be released this morning at 7:30 a.m. CDT. Analysts’ estimates are running 200,000-500,000 MT for 18/19 all wheat export sales. This is for the week that ended August 9. US SRW FOB prices are now below Russia, though freight costs still benefit the latter into the eastern Mediterranean.




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